Posts Tagged ‘Jon Brod’

AOL CEO Tim Armstrong sent an email to staffers detailing the much-reported layoffs taking place Thursday. The full email appears after the jump, but highlights follow:

• Affected employees will be notified by 3 p.m. ET Thursday, followed by an all-employee call at 5 p.m.

• Nearly 200 people in the media and tech groups in the United States will be affected, along with nearly 700 in India, with some 300 of the latter transitioning to outsourcing partners.

• Assistance programs will be made available to affected employees.

• The concept of towns and mayors is being scrapped. Department editor positions will be created for each editorial department, and their partners will be the general managers (formerly mayors), who will continue to serve as CEOs.

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The acquisition of The Huffington Post by Aol earlier this month claimed its first major executive casualty, as Aol Media president David Eun announced that he will leave the company when the transaction closes, as Arianna Huffington, who was named president and editor-in-chief of The Huffington Post Media Group, will take over Eun’s responsibilities.

Sources told AdAge Aol CEO Tim Armstrong offered Eun a position in the company’s video unit, but he declined.

Aol also announced that Aol Ventures president Jon Brod is leading the integration of Aol and HuffPost, and he will be named chief operating officer of Huffington Post Media Group once the deal is final, reporting to Huffington.

The emails to Aol staff from Eun (via TechCrunch) and Armstrong (via AdAge) follow after the jump.

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A news announcement at midnight on Super Bowl Sunday had better be something big if it expects to attract any kind of attention, and in the media world, this one was huge (and shocking): Aol announced that it will acquire The Huffington Post, and that HuffPost co-founder and editor-in-chief Arianna Huffington will assume the post of president and editor-in-chief of The Huffington Post Media Group, encompassing all HuffPost and Aol content including Engadget, TechCrunch, Moviefone, MapQuest, Black Voices, PopEater, AOL Music, AOL Latino, AutoBlog, Patch, and StyleList.

The transaction is valued at $315 million, with approximately $300 million to be paid in cash funded from cash on hand, and it is expected to close in the late first quarter or early second quarter of this year.

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